Oklo (NYSE:OKLO) Director Sells $6,688,000.00 in Stock

Key Points

• Michael Stuart Klein, a director at Oklo Inc., sold 50,000 shares of the company for approximately $6.7 million, resulting in a 25% decrease in his stock position.
• Oklo's stock price dropped by 8.1% to $131.09, with a market capitalization of $19.35 billion, amidst fluctuating trading volumes.
• The company's recent earnings report showed a per-share loss of ($0.18), missing analyst expectations, and an anticipated EPS of -8.2 for the current year.

Oklo Inc. (NYSE:OKLO - Get Free Report) Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the sale, the director directly owned 150,000 shares of the company's stock, valued at $20,064,000. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Oklo Stock Down 8.1%

Shares of NYSE:OKLO traded down $11.56 during trading on Wednesday, reaching $131.09. 24,723,698 shares of the company traded hands, compared to its average volume of 18,542,428. The firm has a fifty day simple moving average of $80.14 and a 200 day simple moving average of $52.89. The firm has a market cap of $19.35 billion, a P/E ratio of -312.10 and a beta of 0.59. Oklo Inc. has a 1-year low of $7.90 and a 1-year high of $144.49.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Watts Gwilliam & Co. LLC bought a new position in shares of Oklo during the 2nd quarter worth about $570,000. Centaurus Financial Inc. bought a new position in shares of Oklo during the 2nd quarter worth about $138,000. Infini Capital Management Ltd bought a new position in shares of Oklo during the 2nd quarter worth about $280,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Oklo during the 2nd quarter worth about $323,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in shares of Oklo by 87.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 14,362 shares of the company's stock worth $804,000 after purchasing an additional 6,712 shares during the period. Institutional investors own 85.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OKLO. Bank of America began coverage on shares of Oklo in a research note on Tuesday, August 26th. They set a "buy" rating and a $92.00 target price for the company. BTIG Research reaffirmed a "neutral" rating on shares of Oklo in a research note on Tuesday, August 12th. UBS Group assumed coverage on shares of Oklo in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 price objective for the company. Seaport Res Ptn lowered shares of Oklo from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Finally, William Blair reaffirmed an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $72.82.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.